At Bankrate, we have a mission to demystify the credit cards industry — regardless or where you are in your journey — and make it one you can navigate with confidence. Our team is full of a diverse range of experts from credit card pros to data analysts and, most importantly, people who shop for credit cards just like you. With this combination of expertise and perspectives, we keep close tabs on the credit card industry year-round to:
At Bankrate, we focus on the points consumers care about most: rewards, welcome offers and bonuses, APR, and overall customer experience. Any issuers discussed on our site are vetted based on the value they provide to consumers at each of these levels. At each step of the way, we fact-check ourselves to prioritize accuracy so we can continue to be here for your every next.
Bankrate follows a strict editorial policy, so you can trust that we’re putting your interests first. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions.
We value your trust. Our mission is to provide readers with accurate and unbiased information, and we have editorial standards in place to ensure that happens. Our editors and reporters thoroughly fact-check editorial content to ensure the information you’re reading is accurate. We maintain a firewall between our advertisers and our editorial team. Our editorial team does not receive direct compensation from our advertisers.
Bankrate’s editorial team writes on behalf of YOU – the reader. Our goal is to give you the best advice to help you make smart personal finance decisions. We follow strict guidelines to ensure that our editorial content is not influenced by advertisers. Our editorial team receives no direct compensation from advertisers, and our content is thoroughly fact-checked to ensure accuracy. So, whether you’re reading an article or a review, you can trust that you’re getting credible and dependable information.
You have money questions. Bankrate has answers. Our experts have been helping you master your money for over four decades. We continually strive to provide consumers with the expert advice and tools needed to succeed throughout life’s financial journey.
Bankrate follows a strict editorial policy, so you can trust that our content is honest and accurate. Our award-winning editors and reporters create honest and accurate content to help you make the right financial decisions. The content created by our editorial staff is objective, factual, and not influenced by our advertisers.
We’re transparent about how we are able to bring quality content, competitive rates, and useful tools to you by explaining how we make money.
Bankrate.com is an independent, advertising-supported publisher and comparison service. We are compensated in exchange for placement of sponsored products and, services, or by you clicking on certain links posted on our site. Therefore, this compensation may impact how, where and in what order products appear within listing categories. Other factors, such as our own proprietary website rules and whether a product is offered in your area or at your self-selected credit score range can also impact how and where products appear on this site. While we strive to provide a wide range offers, Bankrate does not include information about every financial or credit product or service.
Coverage.com, LLC is a licensed insurance producer (NPN: 19966249). Coverage.com services are only available in states where it is licensed. Coverage.com may not offer insurance coverage in all states or scenarios. All insurance products are governed by the terms in the applicable insurance policy, and all related decisions (such as approval for coverage, premiums, commissions and fees) and policy obligations are the sole responsibility of the underwriting insurer. The information on this site does not modify any insurance policy terms in any way.
A 0% balance transfer credit card can help you manage and eliminate debt with introductory offers that provide a temporary break from interest charges. The best balance transfer credit cards available from our partners have introductory 0 percent APR offers lasting 12 to 21 months, giving you an opportunity to avoid paying APR on a transfer until early 2023 — or even 2024. You can see how it works with our Credit Card Balance Transfer Calculator and Credit Card Payoff Calculator.
| Card name | Bankrate’s pick for | Balance transfer intro APR period | Regular APR | Bankrate review score |
|---|---|---|---|---|
| Wells Fargo Reflect Card | Balance transfer beginners | Up to 21 months
From account opening for 18 months, plus 3 months if you make on-time monthly payments during the intro period.
|
16.74% % to 28.74% variable | 4.7 / 5 (Read full card review) |
| Citi Simplicity Card | No late fee | 21 months | 17.74% to 28.49% variable | 4.2 / 5 (Read full card review) |
| Discover it Balance Transfer | Rotating category cash back | 18 months | 15.74% to 26.74% variable | 4.7 / 5 (Read full card review) |
| Citi Diamond Preferred Card | Excellent credit | 21 months | 16.74% to 27.49% variable | 4.0/ 5 (Read full card review) |
| U.S. Bank Visa Platinum Card | Financing purchases | 18 billing cycles
For balance transfers made within the first 60 days
|
18.24% to 28.24% (variable) | 3.6 / 5 (Read full card review) |
| Wells Fargo Active Cash Card | 2% cash rewards | 15 months | 18.74%, 23.74%, or 28.74% variable | 4.3 / 5 (Read full card review) |
| BankAmericard credit card | Longest intro APR | 21 billing cycles
For any balance transfers made in the first 60 days.
|
15.74% to 25.74% variable | 5.0 / 5 (Read full card review) |
| Citi Double Cash Card | Good credit | 18 months | 17.74% to 27.74% variable | 4.2 / 5 (Read full card review) |
| Citi Custom Cash Card | Automatic bonus category | 15 months | 17.74% to 27.74% variable | 4.4 / 5 (Read full card review) |
| Bank of America Unlimited Cash Rewards credit card | Unlimited 1.5% cash back | 18 billing cycles
For any balance transfers made in the first 60 days.
|
17.74% to 27.74% variable | 3.8 / 5 (Read full card review) |
| Bank of America Customized Cash Rewards credit card | Flexible rewards categories | 18 billing cycles
For any balance transfers made in the first 60 days.
|
17.74% to 27.74% variable | 4.3 / 5 (Read full card review) |
Learn more: Is the Wells Fargo Reflect Card worth it?
Read our full Wells Fargo Reflect Card review or jump back to offer details.
Learn more: Is the Citi Simplicity worth it?
Read our full Citi Simplicity Card review or jump back to offer details.
Learn more: Is the Discover it Balance Transfer card worth it?
Read our full Discover it Balance Transfer review or jump back to offer details.
Learn more: Why expert Andy Shuman loves the Citi Diamond Preferred Card.
Read our full Citi Diamond Preferred Card review or jump back to offer details.
Learn more: Is the U.S. Bank Visa Platinum Card worth it?
Read our full U.S. Bank Visa® Platinum Card review or jump back to offer details.
Learn more: Is the Wells Fargo Active Cash worth it?
Read our full Wells Fargo Active Cash Card review or jump back to offer details.
Learn more: Why expert Margaret Wack loves the BankAmericard.
Read our full BankAmericard credit card review or jump back to offer details.
Learn more: Why expert Holly Johnson loves the Citi Double Cash Card.
Read our full Citi Double Cash Card review or jump back to offer details.
Learn more: Why your Citi Custom Cash card could be great for travel
Read our full Citi Custom Cash Card review or jump back to offer details.
Learn more: Compare Bank of America Unlimited Cash Rewards vs. BankAmericard.
Read our full Bank of America Unlimited Cash Rewards credit card review or jump back to offer details.
Learn more: Bank of America Business Advantage Customized Cash Rewards vs. Amex Blue Business Cash
Read our full Bank of America Customized Cash Rewards credit card review or jump back to offer details.
A balance transfer credit card can help you pay off your debt by transferring existing card balances to a new credit card with a 0 percent intro APR period. During that time, you have the chance to pay off the principal without paying interest. When the intro APR period ends, interest will apply to any remaining balance at the end of each billing cycle like a regular credit card.
Want to learn more? Read our full guide on how balance transfer credit cards work.
A balance transfer fee compensates a lender for taking the risk of issuing a temporary interest-free loan. The typical fee is 3 or 5 percent of the balance being transferred and is always at least $5 or $10.
The amount of time it takes for the balance to transfer from one credit card to another will vary by issuer. Some credit card companies may take up to six weeks to complete balance transfers, while others may take as little as two days. You will typically receive an estimated turnaround time from your card provider in advance.
Also, if your new card issuer approves your balance transfer request, it must coordinate the transfer with your current card issuer, which could cause potential delays.
A 0 percent intro offer could save you several hundred dollars or more if you’re paying down a large balance.
Experian’s 2021 State of Credit report shows that the average credit card balance reached $5,525. Here’s how much you could save by transferring a credit card balance of $5,525 to one of our best balance transfer credit cards, based on the following conditions:
| Card Name | Balance transfer intro offer period | Regular APR | Balance transfer fee | Potential savings minus transfer fee |
|---|---|---|---|---|
| Wells Fargo Reflect Card | Up to 21 months (18 months, plus 3 months if you make on-time monthly payments during the intro period) | 16.74%–28.74% variable | $165.75 (3%)
The introductory balance transfer fee for the Wells Fargo Reflect Card is 3 percent or $5 for 120 days after account opening. The fee for each qualifying balance transfer after 120 days is up to 5 percent, with a minimum of $5.
|
$902.25
The total savings assume you qualify for up to 21 months of promotional APR; the Wells Fargo Reflect Card offers 18 months of a 0 percent intro APR on qualifying balance transfers made within 120 days of account opening with the opportunity for a three-month extension if you make on-time monthly payments during the intro period.
|
| Citi Simplicity Card | 21 months | 17.74%–28.49% variable | $165.75 (3%) | $902.25 |
| Citi Diamond Preferred Card | 21 months | 16.74%– 27.49% variable | $276.25 (5%) | $791.75 |
| Discover it Balance Transfer | 18 months | 15.74%–26.74% variable | $165.75 (3%)
The introductory balance transfer fee for the Discover it Balance Transfer is 3 percent of the amount of each transfer. For future transfers, the fee for each qualifying balance transfer is up to 5 percent.
|
$749.25 |
According to The Federal Reserve, about half of all credit card users carry a month-to-month balance. If you find yourself among this group and your current card has a high interest rate, a balance transfer credit card with an introductory 0 percent APR offer can help you address some key financial issues and save a bit on interest. However, if you have other objectives apart from merely transferring a balance, such as earning rewards, having a longer 0 percent APR period, or preferring a low interest card, these are all important factors to consider when choosing a balance transfer card.
Depending on your specific situation, we propose the following:
Still unsure if a balance transfer credit card is right for you? Check out our Credit Card Spender Type Tool where you can get personalized credit card recommendations based on your credit score, spending habits and daily needs.
The best credit cards for balance transfers share several key features. To choose a balance transfer credit card that fits your unique financial situation, consider the following four questions:
Like any other credit card application, a balance transfer card application will result in either approval or denial. If you’re denied a balance transfer card, you may be concerned about the short-term effects on your credit score. Consider if it’s worth applying and undergoing a hard credit pull if you are unsure of your approval chances.
Learn more: Why Approval Odds are your key to a successful credit card application
It’s crucial to figure out what kind of APR you’ll face after the introductory period ends. Interest rates vary widely, and knowing exactly what you’re signing up for is helpful. Also, if you plan on carrying a balance on your card after the 0 percent intro APR period, make sure that you calculate what the minimum payment amount will be — as you don’t want to be surprised by unexpected fees or expenses. If you pay off your balance before the end of the 0% intro APR, there’s no harm done, but if you don’t and you’re stuck paying 19.99 percent interest on your balance, for example, you’d be better off applying for a different card with a lower rate.
To learn more about the card’s fees, the terms and conditions will include details such as the balance transfer fee, late payment penalties, how much time you have to transfer the balance to qualify for the introductory offer and what happens when your 0 percent intro APR period ends. If the card has an annual fee or a balance transfer fee higher than 3 percent, it’s worth considering whether you’d be better off sticking with your current card and making minimum payments until your debt is paid off. Though an annual fee may be worthwhile in return for high rewards rates and access to exclusive cardholder benefits, if your primary goal is to get out of debt then it’s best to avoid rewards or cash back credit cards that may encourage unnecessary spending. Likewise, credit cards with annual fees will reduce the amount of money you could be putting toward repayments.
Like any other credit card application, a balance transfer card application will result in either approval or denial. If you’re denied a balance transfer card, you may be concerned about the short-term effects on your credit score. Consider if it’s worth applying and undergoing a hard credit pull if you are unsure of your approval chances.
Learn more: Why Approval Odds are your key to a successful credit card application
Some of the best balance transfer cards offer general benefits to cardholders, such as extended warranties on purchases and identity theft protection services, as well as rewards programs that can help offset interest payments or provide additional discounts or savings on purchases. If you want to use your card for daily purchases like gas or groceries, you may be able to earn points or miles that may be redeemed for gift cards, statement credits or more.
You can search for preapproval options using tools like CardMatch™ by Bankrate and get a glimpse of what you could feasibly be approved for without the consequences of a hard credit pull.
You don’t have to be an expert in personal finance to understand the balance transfer process. It’s essentially a matter of moving debt from one credit account to another. The main things to know are:
If you want to do a balance transfer with a specific bank or card issuer, Bankrate has detailed guides from the following financial companies:
If you have questions at any point in the process, contact a customer service representative for help. It’s your money, after all, so you’ll want to get everything right.
Currently, the longest 0% intro APR offers on the market are up to 21 months, offered by the Wells Fargo Reflect, Citi Diamond Preferred and Citi Simplicity cards. Although any temporary break from credit card APR is beneficial, a longer intro offer will give you the best opportunity to avoid interest as you pay off your transferred balance. The chart below shows the top three cards with the longest intro APR offers.
| Balance transfer credit card | 0% intro APR offer | Transfer a balance by December 31, 2022 and avoid regular APR until: |
|---|---|---|
| Citi Diamond Preferred Card | 21 months (16.74%–27.49% variable after) | October 2024 |
| Citi Simplicity Card | 21 months (17.74%–28.74% variable after) | October 2024 |
| Wells Fargo Reflect Card | Up to 21 months (18 months, plus 3 months if you make on-time monthly payments during the intro period, then 16.74%–28.74% variable after) | At least July 2024 |
Transferring a credit card balance to a balance transfer card is one of the best ways to pay off debt and save money, but there are other ways to manage your debt that don’t involve a balance transfer card. Here are a few options to consider:
Bankrate writers and editors have evaluated dozens of options to determine which cards are most likely to help you achieve your financial goals with a balance transfer. In this category, our 5-star scoring system pays particular attention to the essential features of a balance transfer credit card, including:
Balance transfer cards should ideally have a long 0% APR introductory offer — between 12 and 18 months, if not longer. You’ll have more time to pay off the transferred balance before the regular APR takes effect.
Regular variable APR is the interest rate that you will be charged after the introductory 0% APR period. Ideally, the low end of the variable APR range should be at least a few points below 16% with a high end no more than 26%.
The best balance transfer credit cards will charge a low fee on transferred balances, or even no fee at all. If you have an excellent credit score, consider asking to have the fee lowered or waived.
Want to know more about transferring balances to a credit card? Here’s a list of our top resources from Bankrate’s personal finance experts:
Have more questions for our credit cards editors? Feel free to send us an email, find us on Facebook, or Tweet us @Bankrate.
* See the online application for details about terms and conditions for these offers. Every reasonable effort has been made to maintain accurate information. However all credit card information is presented without warranty. After you click on the offer you desire you will be directed to the credit card issuer's web site where you can review the terms and conditions for your selected offer.
Editorial Disclosure: Opinions expressed here are the author’s alone, and have not been reviewed or approved by any advertiser. The information, including card rates and fees, is accurate as of the publish date. All products or services are presented without warranty. Check the bank’s website for the most current information.
